Getting out of credit card debt can feel like trying to untangle a giant knot—frustrating and overwhelming - but sometimes, thinking outside the box can spark new motivation.
Here, John Lowe of MoneyDoctors.ie gives eight inventive ways to tackle that debt - and maybe even have a little fun along the way!
1. Host a "debt-busting" garage sale
Turn your clutter into cash by hosting a themed sale—think vintage, collectables, or even "mystery boxes." The more unique, the better! Alternatively, you can sell your wares on apps like Vinted, Depop and Olio.
2. Start a "debt-free challenge" with friends
Make it a friendly competition. Whoever pays off the most debt in a month wins a prize—perhaps a fun outing or a home-cooked meal. Those in the competition pay an entry fee that will fund the prize. Accountability can turn chores into cheers!
3. Become a "secret shopper" for extra cash
Sign up for mystery shopping gigs. Not only do you get paid, but you also get to evaluate businesses—double win! You can apply for such roles on websites like www.panresearch.ie.
4. Offer to teach a skill for pay
Are you great at baking, coding, or playing guitar? Offer lessons of any kind in exchange for extra cash to chip away at your debt.
5. Set up a "debt jar" for unexpected windfalls
Every time you find change or receive a bonus, toss it into a jar dedicated solely to debt repayment—small amounts add up fast.
7. Challenge yourself to a "no-spend day" once a week
Make it a game to go a full day without spending. Save the money you’d normally spend and direct it to your credit card. You might also be ticking the "healthy" box – home cooking, a walk in the park, a cosy evening of reading, etc.
8. Create a visual debt tracker with fun rewards
Design a colourful chart or poster that shows your progress. When you hit milestones, treat yourself to non-financial rewards like a movie night at home, some at-home skincare, or making your favourite dinner. You need to be rewarded for your efforts.
9. Write a "debt freedom" letter to your future self
Visualise your debt-free life by writing a letter to your future self. This mental exercise can boost your motivation and keep you focused.
Having credit card debt and doing nothing about it is the worst thing you can do. The pillar banks and PTSB offer interest-free transfer balances for six months, while An Post Money offer to transfer your credit card debt to them at 0% interest rate for a whopping 12 months. These are also options on that credit card debt.
The most important thing is to get started.
